Waaree Energies Eyes 15-20% Margins on Mega 2 GW Solar Order, Reaffirms ₹7,500-Crore FY27 EBITDA

• by Akanksha Mishra
• 2026-09-23 16:33:00

India’s leading renewable energy manufacturing titan Waaree Energies Ltd has issued a major operational update regarding its landmark 2 gigawatt (GW) solar module supply contract, confirming robust profitability projections with expected operating margins between 15% and 20%. Disclosing the strategic metrics on Wednesday, September 23, 2026, the solar photovoltaic major noted that while non-disclosure covenants prevent identifying the corporate client at this stage, high customer willingness to pay premium rates for reliable Tier-1 hardware underpins the deal's lucrative margin profile. Because utility and commercial solar installations are deployed with operational lifecycles spanning over 25 years, global and domestic off-takers are prioritizing proven technological durability and premium efficiency over discount alternatives.

Strong Operational Visibility: FY27 EBITDA Target Maintained at ₹7,000–₹7,500 Crore

Underpinning its multi-year capital expenditure roadmap, Waaree Energies reaffirmed its bullish consolidated financial guidance, projecting EBITDA to achieve ₹7,000 crore to ₹7,500 crore by financial year 2027 (FY27). The company attributed this sustained margin visibility to simultaneous expansion across both domestic and international markets, where demand for high-efficiency solar modules continues to scale rapidly. Alongside a robust order book in India driven by utility-scale renewable tenders and rooftop solar initiatives, Waaree’s dedicated operational capacity and backlog in the United States are expanding rapidly, enabling the manufacturer to capture lucrative export premiums and capture market share in Western clean energy transitions.

Regulatory Compliance and Institutional Outreach: Goldman Sachs 'Hidden Gems' Meet on September 28

Furthering its capital market engagement, Waaree Energies officially informed stock exchanges via a regulatory filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that key company executives will participate in an institutional investor interaction hosted by Goldman Sachs India. Scheduled as part of the prestigious "Goldman Sachs India – Hidden Gems" forum, the virtual investor meet will take place on Monday, September 28, 2026, between 10:00 AM and 11:00 AM IST through structured group and one-on-one sessions. The clean energy major confirmed that deliberations will strictly center around publicly accessible data with zero sharing of Unpublished Price Sensitive Information (UPSI), directing market participants to its updated institutional investor presentation hosted on its corporate portal.

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